Vinted: 2am house party idea that became Lithuania’s first unicorn | Co-Founder Milda Mitkute
How long would you spend before launching your business?
Milda Mitkute was at a party in 2008 when she ended up chatting to developer Justas Janauskus. She’d come up with the idea for Vinted after she found herself with too many clothes for the small flat that she moved to for university. They decided then and there to turn the idea into a reality and launched the website just two weeks later…Only to forget one critical detail.
A decade later, despite many bumps in the road, Vinted was valued at $1 billion, making it Lithuania’s first ever unicorn. Two years later, in 2021, their valuation sored to to $4.5 billion. It’s now Europe’s number one second-hand marketplace, with over 75 million users spanning 16 countries.
And it was all sparked by an unexpected exchange at a time and place where good ideas normally die.
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